@Helen ZhangFirst, to qualify for a Solo 401k you must have legitimate self-employment activity or business, and no full time employees.

Tenant had legitimate hardship in the past, but is back at work now.

Do you research and make sure there is a legitimate need for one before purchasing, as the vast majority of them that I looked at were scams or did not cover the things I needed covered!

Any tips or information on where to find the correct contracts to use and how to do this legitimately?

On the other hand, having an on-site facility may also enable you to increase rent rates and reduce vacancy, so the payoff could be much faster.

Something occurred to me yesterday though regarding partnering up that would enable us to jump on our first deal faster.

Or do I need to find a title company that will hold my earnest money in escrow/makes sure my sales agreement is legitimate until I find a buyer to sign the contract to?

I think if you have a solid list with legitimate owners then it may be in your favor to leave a voicemail.

Legitimate things can appear sketchy or you could be accidentally making errors. 

Option B = $400,000 Purchase price with a $20,000/5% down payment, leaving you with less equity at the beginning, but $80,000 in cash reserves.In the event of a job loss or some other economic downturn, which option will enable you to continue making your payments?